Credit history is information about all loans taken by the consumer. As practice shows, almost half of Russians who apply to a bank for a loan have a poor understanding of what credit history is and why it exists at all.
Such a concept as a credit bureau is generally not known to anyone. But this is where the data on customer loans and payments are stored. There are more than 30 such bureaus in Russia. Before you go to the bank for a new loan, you should better know what a credit history is, and how it can help or prevent you from taking a loan. To do this, you need to get rid of several misconceptions on this topic.
There is a single "black list" of unwanted borrowers. This myth is very popular. Compatriots believe that once they are on the "black list" they will not be able to get loans from the bank. The truth here is that every bank has a list of defaulters who should not count on a second chance in the near future. However, a single base does not exist, as well as a common credit bureau (CRB). In other words, a person may have completely different information in different sources. In one bureau, the borrower is listed as completely trustworthy, while another awards him with a reputation as a hard-core defaulter. In theory, it is not difficult to find out which BKI contains information about a person. It is enough just to find out your credit history subject code and enter it on the Central Bank website. A list of those bureaus that contain information per person will be immediately issued. In practice, it is difficult to find out, because very few people know their code.
Lack of credit history is a positive thing. In fact, everything is not so simple. The absence of a credit history suggests that the client is a mystery for the bank. Therefore, if you plan to take a large loan or mortgage, then it is better to first take a loan for a small amount and successfully, or even better, even ahead of schedule, to repay it.
You can correct your credit history. It is believed that you can use useful connections, pay someone and remove from the base references to late payments. But this is absolutely not true. First of all, the bureau itself does not change any data. Only the one who placed it there - the bank itself - can delete information. And credit bureaus are concerned about their reputation. If it becomes known that information has been corrected for money, it will mean leaving the business. No one will risk for the sake of one client.
You will have to pay money to get a credit history. It turns out that free information about your own credit history is the norm. Moreover, it is even spelled out in the Law on Credit Histories. It says that once a year any citizen can find out his credit history absolutely free of charge. To do this, you will have to collect a whole package of documents, including a notarized application for obtaining this information, and then send it to the bureau. The credit history should arrive by mail in 2-3 weeks. In practice, the picture is somewhat different. BKI is a private non-state office, which is not at all interested in sending letters throughout Russia at its own expense. As a result, you can spend money on notary services, a letter, waste time, but you can’t wait for the longed-for answer.
By changing your passport, you can change your credit history. When you change your passport or last name, it seems that a new credit history will appear. But in the passport there will be a mark about previously issued passports and changes that have occurred. It is no coincidence that the bank requests all pages of the passport to issue a loan. The financial institution will be able to find out the financial history of the client using his previous data.
After 7-10-15 years, the credit history will be reset. This myth originated from one norm in the law, which is simply interpreted freely. Even after the loan is repaid, if there are monthly or more delays, this transaction will be assigned a negative status. And it will appear on the first page of 84 months history. Then this review should disappear. If no new information appears in the history during this time, then it must be deleted. But today in Russia credit information is only accumulating. Most likely, it will not be removed either after 7, or after 15 or 30 years.
A good credit history guarantees a loan. This statement is only partially true. If a person has changed his place of work and has been in the new place for less than three months, then the stop factor will play. And a positive credit history won't help here. The bank may also refuse due to low solvency. A person with a meager white salary is unlikely to easily get a loan to buy a car. After all, it may turn out that all the money earned will go to payments to the bank. Such a financial strategy is simply not feasible.
By giving a bribe to a security officer, you can secure credit for yourself with a bad history. Similar myths are spread by scammers or black brokers. The fact is that the credit committee includes not only the security service, but also employees of several other departments (up to seven). Residents of the regions will have to wait for the approval of the head office. If you try to bribe everyone, it turns out to be a very expensive scam.
By paying the bank symbolic 100-200 rubles, you can provide yourself with a good credit history. The myth emerged from the substitution of concepts. Some banks deliberately deceive people by giving them a stripped down credit report instead of a complete history. Outwardly, the documents are similar, but the report does not contain the names of the banks. This prevents you from finding and fixing errors within the document. So the miser has to pay twice. According to the law, a credit report cannot be issued to the borrower at all, which is sometimes neglected by banks. It is also good that vigilant citizens suppress illegal trade in these documents. And the fines are quite impressive. Banks reckon that, having lost a small amount of money, citizens usually do not want to complain, get involved in investigations of fraud with documents.
In the case of a damaged credit history, a bank loan will never be obtained. This is not true at all. Even the worst and "killed" credit history in a couple of years can be reanimated. You just need to open an account in a bank and deposit your personal money there. After some time, you can take out a commodity loan in the same place for an amount less than the deposit. Then you can open a credit card and gradually improve your story.
Credit history contains only negative information. In the credit history there is not only negative, but also positive information on the previous loan servicing. You can even present a personal credit report with a valuable intangible asset, a client's financial passport. The value lies in the fact that a positive history helps to save time when obtaining a loan, as well as to choose the best conditions at any bank. A client with a positive payment discipline is interesting to everyone. But the opposite is also true. Credit history, as an important document, remains with a person, even if he changes his surname, identity card, and place of residence. And if the obligations assumed are met in a timely manner and fully, then the value of this asset will only increase.
The guarantor does not need to have his own credit history. The guarantor or surety may also have their own credit history, this should be taken into account when signing a loan agreement. And although the law does not directly provide for the need to obtain information about guarantors from the credit bureau, there is no such prohibition either. The guarantor signs all the necessary documents for issuing a loan, why doesn't the bank check this person? If the guarantor gives the bank consent to provide information about himself to the credit bureau, then it will be included in the general database.
To achieve a positive credit history, you should not be late in payment, even one day. Credit history is assessed by each bank through the prism of its own policy. Usually financial institutions turn a blind eye to small in terms of amount and time and rarely occurring delays. If delays of up to a month occur less often than once every six months, then the bank is likely to consider such a story good enough and approve the application for a loan.